The Consumer Financial Protection Bureau on Friday sued the operator of the Zelle payments network and the three U.S. banks that dominate transactions on it, alleging that the firms failed to properly investigate fraud complaints or give victims reimbursement.
The CFPB said customers...
The Consumer Financial Protection Bureau (CFPB) recently passed new regulations that grant it expansive oversight over digital wallet and payment apps, such as Venmo and Apple Pay, effectively treating these companies as traditional financial institutions. The CFPB’s rule takes a one-size-fits-all approach with a low threshold for covered companies,...
U.S. stock futures fell on Friday morning as traders anticipated the latest reading of the Federal Reserve’s favorite inflation gauge.
Futures tied to the Dow Jones Industrial Average lost 88 points, or about 0.2%. S&P 500 futures also dropped around 0.3%, while Nasdaq 100 futures slid 0.6%.
Futures took a turn...
Buy now, pay later has emerged as one of the most transformative innovations in the payments industry in recent years. While no longer considered a new technology, financial institutions like Citi continue to find novel ways to integrate the tech into their offerings.
Citi has incorporated BNPL into its Citi...
Crude oil prices were on track for yet another weekly loss earlier today as pessimism about demand growth in China continued to dominate markets.
At the time of writing Brent crude was trading at $72.45 per barrel and West Texas Intermediate was changing hands for $69.91 per barrel, both down...
